What is a more effective solution for rounding to specific decimal points in PHP?

When rounding numbers to specific decimal points in PHP, using the number_format() function is a more effective solution. This function allows you to format a number with a specific number of decimal points and also handles rounding properly. It is simpler and more straightforward than manually rounding numbers using mathematical operations.

$number = 123.456789;
$rounded_number = number_format($number, 2); // rounds to 2 decimal points
echo $rounded_number; // Output: 123.46